U.S., China Hike Tariffs as Trade Row Intensifies

China and the United States imposed new tariff hikes on each other’s goods Monday and Beijing accused Washington of bullying, giving no sign of compromise in an intensifying battle over technology that is weighing on global economic growth.

U.S. regulators went ahead with a planned 10 percent tax on a $200 billion list of 5,745 Chinese imports including bicycles and furniture. China’s customs agency said it responded at noon by beginning to collect taxes of 5 or 10 percent on a $60 billion list of 5,207 American goods, from honey to industrial chemicals.

The conflict stems from U.S. President Donald Trump’s complaints Beijing steals or pressures foreign companies to hand over technology.

American officials say Chinese plans for state-led development of global competitors in robotics and other technologies violate its market-opening obligations and might erode U.S. industrial leadership. Click here to read more.